India's Real-Time Payments: Powering Economic Growth

In 2023, real-time payments boosted India's GDP by $50 billion, enhancing financial inclusion and creating growth opportunities. By 2028, they are expected to contribute an additional $76.5 billion to GDP and open 25.5 million new bank accounts. This positions India as a leader in economic efficiency and inclusion.

Real-time payments significantly increased India's GDP by $50 billion in 2023, making it the largest market for GDP growth globally. This impressive growth was highlighted in a report by ACI Worldwide and The Centre for Economics and Business Research.

The report indicates a substantial link between real-time payments and enhanced financial inclusion, projecting a $76.5 billion GDP increase by 2028. This growth positions India well on its path to becoming the world's third-largest economy by 2030–31.

The adoption of real-time payments has accelerated financial access for underserved communities, offering a notable opportunity for banks due to expected profit increases from new bank account holders. India's leadership in this area marks significant progress in global financial connectivity and inclusion.